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Jan 13, 2013
01/13
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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Jan 15, 2013
01/13
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"raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel reponded by saying, "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it." traders will get their first opportunity to react to comments at the market close yesterday by federal reserve chairman ben bernanke. among the highlights, the fed chair says, the federal government is not out of ammunition, the fed's bond-buying program is not likely to lead to higher inflation, and the fed sees positive signs in the economy. bernanke made the comments during an appearance at the university of michigan. nike i
"raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel...
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Jan 15, 2013
01/13
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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Jan 18, 2013
01/13
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as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. -- defaults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. t
as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game...
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Jan 17, 2013
01/13
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ceiling -- the raising of the debt ceiling and sequestration. this is just getting underway. [applause] >> well, good morning. thank you, raymond. and thanks to all of you for making it through the snow drifts. glad you all arrived safely. one flake of snow, and washington closes down. well, we're very excited about the new year. our partnership with the chamber and this morning's program featuring senators kent conrad and judd gregg. before we start our program, i'd like to recognize our sponsors, bdo represented by david trimner. if bdo could, please, stand and be recognized. [applause] all right. the broadmoor remitted by hover -- represented by lori meacham. lori, if you could -- [applause] and ceo update whose editor-in-chief is recovering from a bad case of the flu, so she is not here. bdo is the leader in accounting and consultancy services for associations, the broadmoor is the number one resort property for associations looking for a five-star meeting experience. i've got great memories, i remember my first experience bringing my 4-year
ceiling -- the raising of the debt ceiling and sequestration. this is just getting underway. [applause] >> well, good morning. thank you, raymond. and thanks to all of you for making it through the snow drifts. glad you all arrived safely. one flake of snow, and washington closes down. well, we're very excited about the new year. our partnership with the chamber and this morning's program featuring senators kent conrad and judd gregg. before we start our program, i'd like to recognize our...
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Jan 16, 2013
01/13
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we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need restraint of a debt ceiling to prevent the spending from even going further? >> no. and it doesn't restrain spending at all. congress makes the decisions as to what to spend, what the level of taxation should be, what the level of spending should be. the debt ceiling is just there and, says you can not pay the bills that you voted to incur a year ago and two years ago and three years ago. and that is just wrong. now it used to be harmless in that the debt ceiling would be raised with a little demagoguing here and there but no one ever seriously suggested not raising it. it w
we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need...
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Jan 15, 2013
01/13
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debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the
debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new...
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Jan 17, 2013
01/13
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adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans are relishing the debt ceiling does indeed have to be raised. joining us now, ihs chief economist and we appreciate you being here. is this fight we are about to have necessary, and what is going to happen to whether it is the global market, 401(k), what will happen to all of us if congress passes this fight? >> this is not a necessary fight. this situation created by congress which sent the debt ceilinfrom years ago in hopes it would impose some discipline but of course it hasn't because it has been raised and raised and raised and no
adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans...
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Jan 14, 2013
01/13
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raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already authorized. and, you know, the notion that republicans in the house or maybe some republicans in the senate would suggest that in order for us to get our way on our spending priorityies, that e would risk the full faith and credit of the united states, that, i think, is not what the founders intended. that's not how, i think, most americans think our democracy should work. they've got a point of view. democrats in congress have a point of view. they need to sit down and work out a compromise. [ inaudible ] yeah. >> and you're not negotiating on the debt c
raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already...
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Jan 14, 2013
01/13
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the debt ceiling is going to be made. america is not at the end of the day going to --. on the other hand, they are not going to solve this quickly. they will make us go through the same thing they did at the end of 2012. david: we're always hearing that the president is not going to make a deal until he does make a deal and the same is true with congress but something is going to get done. let's focus on stocks for a second. we had this two very interesting bits of news from the tech market. apple waking up to news today that they are not selling as many iphone 5s as they thought they would therefore they are cutting back on supply orders. also the news from dell that they may be going private. is there a retrenchment -- retrenchment going on in the tech sector >> being a commodity person all my life, a commodity is a commodity and over time it loses value. dell has discovered that. that is one of the problems they are in. they have to get into a different business. apple came out with its iphone 5 which didn't shake the world. i have an iphone 4-s. why do i need an iph
the debt ceiling is going to be made. america is not at the end of the day going to --. on the other hand, they are not going to solve this quickly. they will make us go through the same thing they did at the end of 2012. david: we're always hearing that the president is not going to make a deal until he does make a deal and the same is true with congress but something is going to get done. let's focus on stocks for a second. we had this two very interesting bits of news from the tech market....
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Jan 15, 2013
01/13
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. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows the country to pay for spending that congress is committed to. >> he said americans understand the concept. >> you don't go out to dinner and... then, you know eat all you want. and then... leave without paying a check. >> if you do that, it's against the law, said the president. he added if congress fails to raise the debt ceiling american people will pay the price. >> social security checks and veteran benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owner autos again and again, the president repeated the fact raising th
. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows...
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Jan 19, 2013
01/13
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FOXNEWS
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>> he already said he doesn't think anything should be tied to the debt ceiling. it's something you shouldn't play with the full faith and credit of the united states. what is interesting about this, coming out of the republican retreat that just occurred, there are some republicans within the republican house, republican caucus who actually agree with him on the sense that you don't play with the debt ceiling as the point to which to make cuts. there are other issues coming up like the continuing resolution and sequester cuts where they would like to make their last stand there for cutting getting spending cuts and allow on temporary extension without not much attached to it. >> heather: let's talk about the economy. the president starts his new term. less than 1% rate it as excellent. 9% say it's good shape. that is up a touch from his first inauguration but 91% of voters say economic conditions negatively today. why are we here again? >> you have to wonder. i point you back to november the conditions haven't changed all that much in two months. i would imagine
>> he already said he doesn't think anything should be tied to the debt ceiling. it's something you shouldn't play with the full faith and credit of the united states. what is interesting about this, coming out of the republican retreat that just occurred, there are some republicans within the republican house, republican caucus who actually agree with him on the sense that you don't play with the debt ceiling as the point to which to make cuts. there are other issues coming up like the...
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Jan 14, 2013
01/13
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let the debt ceiling battle begin. president obama calling on congress to raise the limit without delay. house speaker boehner says spending cuts must be part of any increase. who will win and how will it impact the already fragile economy? we're looking for answers on that. >>> general motors takes the prize. the cadillac ats wins car of the year at the north american auto show. gm also announcing record chevy sales. plus new plans for its corvette. my favorite car. >>> and gm north america president mark reuss tells us all about it. that is live coming up from detroit. >>> weight watcher's ceo is here too. he was one of the corporate america's loudest voices leading up to the fiscal cliff. now that paychecks are smaller in 2013 how worried is he about the impact on his business? david kir chof here as well it is time for stocks. nicole petallides on the floor of the new york stock exchange. we're basically flat-lining. >> not far off the unchanged line. the trend is slightly higher. that's right, on friday for exampl
let the debt ceiling battle begin. president obama calling on congress to raise the limit without delay. house speaker boehner says spending cuts must be part of any increase. who will win and how will it impact the already fragile economy? we're looking for answers on that. >>> general motors takes the prize. the cadillac ats wins car of the year at the north american auto show. gm also announcing record chevy sales. plus new plans for its corvette. my favorite car. >>> and...
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Jan 14, 2013
01/13
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FOXNEWSW
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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Jan 21, 2013
01/13
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ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that apple. stuart: this is a financial issue. it's a budget issue, so they need a straight up or down vote in the senate and the democrats have a majority in the senate, but i'll put it to you, a couple of democrats there, who are going to say we're not all for more and more and more taxes because we know what it's going to do to the economy. it's not a done deal, is it? they're pushing for it, but it ain't done. >> listen, harry reid, remember when john boehner was going to bring the vote to the house and he didn't have the votes after he'd said i'm going to bring the vote to the house. i have a sus
ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that...
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Jan 16, 2013
01/13
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the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that
the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011...
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Jan 15, 2013
01/13
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CNBC
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ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand -- production, rather. that sends the market up. when i got up this morning and looked at the screen, platinum made that 3% today. i looked at the metal sector and looked at things that were undervalued. i think gold short term will benefit but long term i think platinum is going to be a better bet. if platinum stays higher, than going through the latter part of the year, that could signal a change in the market sentiment. gold is your fear and platinum is going to be demand in manufacturing. that could signal a change but not yet. i think
ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand --...
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Jan 17, 2013
01/13
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CSPAN
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as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. the sequester
as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game...
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Jan 14, 2013
01/13
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CNBC
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house over the coming brawl over the debt ceiling. administration officials in a series of statements and discussions saying that all the cool, clever and quirky ideas that people have been talking about to avoid the debt ceiling are off the table. the administration in one form or another over the past several weeks has rejected the platinum coin idea. that was on saturday. scrips or ious issued by the government. and asset sales, which is another thing that's been making the rounds. jay carney on saturday saying there are only two options for putting the nation into default. others say the ideas put off the debt ceiling problem, or make the country look like a banana republic. some house republicans are seriously considering putting the nation into default. po lit ohco in a story this morning said default is becoming more widespread and getting more serious traction than people realize. kathy mcmorris rogers telling politico i think it's possible we would should down the government to make president obama understands that we are ser
house over the coming brawl over the debt ceiling. administration officials in a series of statements and discussions saying that all the cool, clever and quirky ideas that people have been talking about to avoid the debt ceiling are off the table. the administration in one form or another over the past several weeks has rejected the platinum coin idea. that was on saturday. scrips or ious issued by the government. and asset sales, which is another thing that's been making the rounds. jay...
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Jan 16, 2013
01/13
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and speaking out on the debt ceiling showdown. as we head to break, look at the early movers here on wall street. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. ♪ you know my heart burns for you... ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief s! >>> the board of jpmorgan cutting jamie dimon's pay by 50% in light of a multibillion dollar loss last year. down from $23 million from the year before. that brings us to this morning's squawk on the tweet. how might jamie dimon tighten his belt. tweet us at squawk street. there's a lot of -- i don't want to say hatred, but ill wi
and speaking out on the debt ceiling showdown. as we head to break, look at the early movers here on wall street. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price"...
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Jan 16, 2013
01/13
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we should extend if not end of the debt ceil i
we should extend if not end of the debt ceil i
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Jan 19, 2013
01/13
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WETA
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. >> the debt ceiling debate continues. >> the real issue here is, we all know, is spending. >> what are the risks of huge dispense cuts? >> operation commitment, and trading will be gutted. we will ground aircraft, return ships to port, and sharply curtail training across the force. >> a bill before the while the state legislature would make a federal legend try to enforce a ban on arms federal -- guilty of a felony. there are similar measures in texas. the governor of mississippi want to make it illegal in the state to makin force any new gun laws. how many times have we had this debate? this time after the massacre in connecticut, the president says it is different. the president has said 23 executive order is aimed at reducing gun violence and is urging congress to reduce -- and it back crunchers' for all gun sales purity is also asking americans to put heat on members of congress to get there. >> ask for a member of congress if they support universal back rent checks to keep guns out of the wrong hands. if they say no, ask them why not. >> the nra response was predictably immedi
. >> the debt ceiling debate continues. >> the real issue here is, we all know, is spending. >> what are the risks of huge dispense cuts? >> operation commitment, and trading will be gutted. we will ground aircraft, return ships to port, and sharply curtail training across the force. >> a bill before the while the state legislature would make a federal legend try to enforce a ban on arms federal -- guilty of a felony. there are similar measures in texas. the...
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Jan 19, 2013
01/13
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ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world have this particular institution. the congress appropriates $100, tells the government to spend $100 on whatever, and then it raises $80 in revenue through its tax code. the arithmetic here says, you have to borrow $20. no, congress has to give a third 100-80 = says the 180at 20. logically, there is got to be something to make up the difference. the way to address it is by having a sensible plan for spending, insensible span foplar revenue. as i was saying before, this is like a family saying, we're spending too much. let's stop paying our credit
ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world...
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Jan 21, 2013
01/13
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LINKTV
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but his first priority is getting congress to increase the nation's debt ceiling at that talk about cutting the debt. that's where some think he will try to cement his legacy. >> he's going to try to get our long term in thailand obligations under control and set us on a new fiscal course. >> the president's first foreign-policy priority last term was israeli-palestinian peace. it's unlikely to take the top spot the second time, where most expect the president's focus to be on iran. >> it's hard to believe if we can't get a meaningful negotiation within the next two years that you will not have it read capable of producing a nuclear weapons. then, the u.s. has the choice in its negotiations -- will the solution be containment or is it going to be a preventive strike? >> as he takes the oath again, he will do it with the experience of that presidencies are often formed by crises that happened outside of their control. he will know all folksy brought here last i did not change washington. he will try something -- you have to try something new if you want to accomplish his ambitious agenda thi
but his first priority is getting congress to increase the nation's debt ceiling at that talk about cutting the debt. that's where some think he will try to cement his legacy. >> he's going to try to get our long term in thailand obligations under control and set us on a new fiscal course. >> the president's first foreign-policy priority last term was israeli-palestinian peace. it's unlikely to take the top spot the second time, where most expect the president's focus to be on iran....
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Jan 21, 2013
01/13
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we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in the private sector, which needs to be fluffed off. there's a deraef raejing that you've been seeing right across the western world is still going to go on, i think, for the best part of this decade. >> and we heard leading up to this election that rarely has a u.s. president been elected with such high levels of unemployment. what was different this time? >> oh, i think it had something to do with the candidate he was facing not being able to energize the public. but i also think, look, reflation? the public loves that, right? free money. >> but do th
we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in...
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Jan 20, 2013
01/13
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they are folding on the debt ceiling. they are hoping the timing will be better to deal with the sequestration with the debt ceiling but that is cosmetics. john is right. the premise of your question is right. this is a party that lost its way, lost its vision, lost its approach and the president is trying --. >>gregg: the president's approval rating is 53 percent and negative 48 percent and that is almost the lowest of any second-term president in six decades. nixon did better than that. however, look at the house of representatives republicans. they are showing disapproval rating at 73 percent. >> they have been perceived at negative, out of touch positions that are not popular. >>gregg: gay rights and tax rights? >> and they fit into the demonization they are protecting the rights of the rich. >> they do not have a pro growth agenda, creating jobs, they do not have a message. >>gregg: and the republican party is out of touch according to six in ten. five in ten, they rank poor on climate change and women's issue. >> th
they are folding on the debt ceiling. they are hoping the timing will be better to deal with the sequestration with the debt ceiling but that is cosmetics. john is right. the premise of your question is right. this is a party that lost its way, lost its vision, lost its approach and the president is trying --. >>gregg: the president's approval rating is 53 percent and negative 48 percent and that is almost the lowest of any second-term president in six decades. nixon did better than that....
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Jan 15, 2013
01/13
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they are fighting over the debt ceiling. no worries about our ability to repay our debt. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legaplan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. >> i have your fox business brief. conoco phillips is selling some of its properties in north dakota and montana. the deal is expected to close in the first quarter. shares of usa compression partners are under pressure. the pricing of the company of 11 million shares at $18 each fell short of the estimated range. they are the first ipo of the year. shares of given imaging are trailing on news that they are taking itself off the market. they are no longer considering a sale or possible merger. they will focus on their current operating plan. that is the latest from the fox bu
they are fighting over the debt ceiling. no worries about our ability to repay our debt. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legaplan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. >> i have your fox business brief....
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Jan 15, 2013
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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Jan 16, 2013
01/13
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that the debt ceiling is adjusted to accommodate the budget that we pass. and there is an enormous amount of hypocrisy going on. and i admit on the democratic side on the past, you know, it is like you going out and buying a refrigerator on your credit card and then 20 days later the bill shows up and you see you are over your debt limit, so you tell the freezer company, you're not paying it. the decision when you spend the money or raise taxes -- >> thank you very much for your answer. hope you will come back and join us again sometime. >> thank you. >> second inauguration of president obama takes place on monday, january 21st. that will martin luther king, jr. he will be sworn in on the day before, the 20th, as per the constitution. i will host a special cnbc event. it begins at 11:00 a.m. eastern time. that is, monday, martin luther king, jr. day. >> sue? >> ty, shares of lululemon continue to be under pressure on the back of the latest outlook. what is ahead for the yoga appear el maker? courtney is live in miami. courtney? ♪ ♪ ♪ [ male announcer
that the debt ceiling is adjusted to accommodate the budget that we pass. and there is an enormous amount of hypocrisy going on. and i admit on the democratic side on the past, you know, it is like you going out and buying a refrigerator on your credit card and then 20 days later the bill shows up and you see you are over your debt limit, so you tell the freezer company, you're not paying it. the decision when you spend the money or raise taxes -- >> thank you very much for your answer....
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Jan 18, 2013
01/13
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second, you have the tet ceiling. it is -- the debt ceiling. it is the wrong thing to hold the country hostage. it is also going to be a play. we know there's going to be a fight over the debt ceiling. in the past it was kind of a speed bump that reminded folks we were borrowing too much, and we needed to make changes. it could be a useful reminder, not if it goes as far where people start to really worry about the faith of the u.s. government and it starts to do economic damage, which is what we saw last time. the third or piece is the continuing resolution, the fact that government spending is going to expire, and the sort of triple witching hour of these three issues is another kind of fiscal cliff. the question is, is it going to force angst with the hardest -- action with the hardest pieces still remaining, or when it came to the fiscal cliff for all intents and purposes -- listen, it's good we raised some revenues, but we basically punted. we punted all the hard choices, and they sort of tried to declare a bipartisan victory. but it wasn'
second, you have the tet ceiling. it is -- the debt ceiling. it is the wrong thing to hold the country hostage. it is also going to be a play. we know there's going to be a fight over the debt ceiling. in the past it was kind of a speed bump that reminded folks we were borrowing too much, and we needed to make changes. it could be a useful reminder, not if it goes as far where people start to really worry about the faith of the u.s. government and it starts to do economic damage, which is what...
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Jan 16, 2013
01/13
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ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes that the american people may be saddled with. stu varney is varney and company on the fox business network. they're not the majority in the house, but there is he' a push to make them the majority in the house. and president obama is reportedly maneuvering in a lot of ways, politically now to try to set the democrats up to retake control of the house and there's a question about whether as soon as 2014, if they get their way, they're going to get rid of the debt ceiling. what would that do? >> what they want is unlimited borrowing by the administration so the treasury can say, i want to borrow, this, this, this,
ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes...
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Jan 21, 2013
01/13
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one example the debt creel and controlli -- debt ceiling and what americans describe as out of control spending. what do key republicans take with the attitude toward congress at this point? >> to get real solutions president obama needs to understand what will pass in the republican led house. it will also be acceptable to him. lawmakers tend to be unhappy when the president goes around them. they called on mr. obama to do better. >> he speaks in general terms likes the executive order approach a whole lot better than the legislative approach. you can't get all that foreign with executive order. you have to legislate and you have to legislate realistically. you have to realize you don't control the entire congress. >> republicans don't like that the president is converting his campaign apparatus into a purpose that helped him in his second term. they are thinking that is probably not a good sign in working in a bipartisan fashion. >> one area where they do not agree at all is over the budget. it>> it has been a source of problems when they work on critical issues and budget is a key c
one example the debt creel and controlli -- debt ceiling and what americans describe as out of control spending. what do key republicans take with the attitude toward congress at this point? >> to get real solutions president obama needs to understand what will pass in the republican led house. it will also be acceptable to him. lawmakers tend to be unhappy when the president goes around them. they called on mr. obama to do better. >> he speaks in general terms likes the executive...
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Jan 15, 2013
01/13
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raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get through the debt ceiling debate, continuing resolution. it's going to be bumpy. we'll take full advantage of a market falldown during that period because you've got three main things going for you. housing turning for real, not just an inventory real liquiification and foreclosures. all that have stuff turning for real. it will turn into unemployment back half of the year. a little better transparency on fiscal policy. not necessarily the fix but the transparency. business cap "x" second half of the year and every single central bank in t
raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get...
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Jan 14, 2013
01/13
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i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the beginning of march. they want to use these opportunities. they don't think it's so bad to shut down the government or to default on the debt. they are even skeptical of the administration's estimates of when that will happen. so they see themselves really having very little leverage besides doing something which a lot of americans would consider extreme which is defaulting on the debt or shutting down the government. now i think it's virtually impossible that speaker john boehner will raise the debt ceiling without commensurate spending cuts. he's wa
i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the...
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Jan 21, 2013
01/13
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the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans that are more in a compromising mode than we heard a week ago. right now they're talking about perhaps an increase in the debt ceiling that lastins for a coup months. frankly, and russ may agree with me here, i don't think markets would react very approvingly to basically just another lurch from crisis to crisis. it wasn't too long ago that, maria, you and i were in these chairs talking about the fiscal cliff. now the debt ceiling. do you want to have this discussion two months from no
the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >>...
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Jan 15, 2013
01/13
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ceiling. he says if they don't the u.s. faces a federal default and confusion in financial markets. >> the republicans can act responsibly and y amica' bills or put america through another economic crisis. >> obama says raising the debt limit is necessary for the government to meet its obligations. he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share prices. it also prompted the first downgrade on u.s. government bonds. global car makers are showcasing their latest model at the 2013 international auto show in detroit. more than 50 new models are on display. t
ceiling. he says if they don't the u.s. faces a federal default and confusion in financial markets. >> the republicans can act responsibly and y amica' bills or put america through another economic crisis. >> obama says raising the debt limit is necessary for the government to meet its obligations. he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but...
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Jan 17, 2013
01/13
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we don't have to raise debt ceiling if sequestration happens. as a result republicans had a bargaining chip. lori: talk about the investments. emerging markets you like china and asia. in our tease we said germany too. >> yes. lori: i don't know if germany is really emerging markets. we'll start with emerging markets and move on. >> 2012 to 2013, 2012 we were heavily allocated in the u.s. now we're looking back overseas again. i'm not suggesting a dark cloud over europe is gone right now but i do think there are great opportunities in northern europe and germany remains as the one gem in europe in terms of that economic prowess. lori: tell me about the emerging markets. these economies in many ways are outperforming the u.s. many say put emerging markets into retirement if you want to earn a decent yield at this point you have to mix it up with the emerging markets. not alternative investment it used to be. >> correct. the old bric trade from 2007 and pull out r and o, invest in brazil and china those are two countries to be in. europe and u.s.
we don't have to raise debt ceiling if sequestration happens. as a result republicans had a bargaining chip. lori: talk about the investments. emerging markets you like china and asia. in our tease we said germany too. >> yes. lori: i don't know if germany is really emerging markets. we'll start with emerging markets and move on. >> 2012 to 2013, 2012 we were heavily allocated in the u.s. now we're looking back overseas again. i'm not suggesting a dark cloud over europe is gone...
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Jan 14, 2013
01/13
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debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to be much, much worse, much bigger deal. talk to me ab
debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had...
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Jan 20, 2013
01/13
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the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist vice e president bibiden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term, it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people were nervous in december. th're coming back in to stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit o
the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist vice e president bibiden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going...